Tesla Insurance Costs | Youi

How much does Tesla insurance cost?

What it costs to insure a Tesla with Youi can vary depending on a range of factors, including your individual circumstances and the particular Tesla model and its specifications. If you’re looking for an insurance quote for your Tesla, Youi’s annual premium ranges below could give you an idea on what you might pay for our Comprehensive cover.

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Model

ANNUAL PREMIUM RANGE:

$1,820 to $3,376

Insurance costs for the Tesla Model 3 are about 16% higher than the average annual premium for all Tesla models insured with Youi.

What’s the average cost for Tesla car insurance?

The average cost for Comprehensive cover with Youi can vary between different models of Tesla. Take a look to see the average annual premiums for the Tesla models we insure.

How we calculate these numbers

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Tesla Model S

$2,162

Tesla Model Y

$2,249

Tesla Average

$2,419

Tesla Model 3

$2,802

Choose your cover

Start a quote with us today to find out how much it will cost to insure your Tesla with Youi. Choose from a range of cover types including Comprehensive, Third Party Fire & Theft and Third Party Property Only.

Comprehensive car insurance

Includes cover for loss or damage to your car, plus damage your car causes to other people's cars and property.

Explore Comprehensive

Third Party Fire & Theft

Includes cover for your car against fire and theft, plus damage to other people's cars and property.

Third Party Fire & Theft

Third Party Property Only

Includes cover for damage to someone else's property.

Third Party Property Only

Comprehensive car insurance

Includes cover for loss or damage to your car, plus damage your car causes to other people's cars and property.

Explore Comprehensive

Third Party Fire & Theft

Includes cover for your car against fire and theft, plus damage to other people's cars and property.

Third Party Fire & Theft

Third Party Property Only

Includes cover for damage to someone else's property.

Third Party Property Only

Interesting facts about Tesla

Tesla is the world leader in electric cars

Out of all the companies that are wholly dedicated to producing electric vehicles, Tesla is the world’s largest, delivering 908,573 new vehicles in the first 3 quarters of 2022.¹

Tesla’s ‘Sentry Mode’ deters thieves

One of the technologically-advanced features of some Tesla models is ‘Sentry Mode’, which automatically detects suspicious motion around the vehicle. If your Tesla detects a threat, it will react differently depending on how severe it determines the threat to be. You’ll also get an alert on your Tesla app.²

Tesla is named after the inventor Nikola Tesla

Nikola Tesla (1856-1943) was an American inventor who registered many patents and is known as the ‘father’ of the alternating current (AC). He is also credited with paving the way for much of the technology we use today.³

Some Teslas are self-parking

Tesla offers a software add-on called ‘Full Self-Driving’ (FSD), which can autonomously park the car. For anyone who’s ever had an ‘argument with a pole’ while parking their car, this special feature could definitely be worth the added cost.⁴

Out of all the companies that are wholly dedicated to producing electric vehicles, Tesla is the world’s largest, delivering 908,573 new vehicles in the first 3 quarters of 2022.¹

One of the technologically-advanced features of some Tesla models is ‘Sentry Mode’, which automatically detects suspicious motion around the vehicle. If your Tesla detects a threat, it will react differently depending on how severe it determines the threat to be. You’ll also get an alert on your Tesla app.²

Nikola Tesla (1856-1943) was an American inventor who registered many patents and is known as the ‘father’ of the alternating current (AC). He is also credited with paving the way for much of the technology we use today.³

Tesla offers a software add-on called ‘Full Self-Driving’ (FSD), which can autonomously park the car. For anyone who’s ever had an ‘argument with a pole’ while parking their car, this special feature could definitely be worth the added cost.⁴

What might impact my Tesla insurance costs?

Your Tesla insurance premium may be affected by factors such as your age, location and driving history. To get the most detailed information about keeping your Tesla covered, start a quote with Youi today.

Your age

Most insurance companies take age into consideration when calculating car insurance premiums. Your driving history can also affect the cost of your insurance.

Your home address

The place where your Tesla is kept may impact the cost of your insurance. Certain suburbs have higher crime rates, and some locations are more susceptible to storms and other severe weather. It will also make a difference whether your Tesla is kept outside on the street, under a carport or inside a locked garage.

The model of your Tesla

Ultimately, the cost of your insurance can depend on how expensive it will be to repair or replace your Tesla (depending on your level of coverage). This is why we need to know the model of your car when providing a quote for insurance.

Coverage level

Youi offers a range of insurance options for Teslas, including Third Party Property Only and Comprehensive cover. A Third Party Property Only policy generally only covers damage to the other person’s car or property, while Comprehensive cover includes coverage for damage to the other person’s car as well as loss or damage to your car (for insured events).

Your age

Most insurance companies take age into consideration when calculating car insurance premiums. Your driving history can also affect the cost of your insurance.

Your home address

The place where your Tesla is kept may impact the cost of your insurance. Certain suburbs have higher crime rates, and some locations are more susceptible to storms and other severe weather. It will also make a difference whether your Tesla is kept outside on the street, under a carport or inside a locked garage.

The model of your Tesla

Ultimately, the cost of your insurance can depend on how expensive it will be to repair or replace your Tesla (depending on your level of coverage). This is why we need to know the model of your car when providing a quote for insurance.

Coverage level

Youi offers a range of insurance options for Teslas, including Third Party Property Only and Comprehensive cover. A Third Party Property Only policy generally only covers damage to the other person’s car or property, while Comprehensive cover includes coverage for damage to the other person’s car as well as loss or damage to your car (for insured events).

FAQs

Here you’ll find answers to some commonly-asked questions about Tesla insurance with Youi.

VIEW THE PDS CAR INSURANCE TERMINOLOGY

If you insure with Youi, the average annual premium for a Tesla is $2,419. Bear in mind that your age, location and the model of Tesla you drive will also impact the cost of your insurance. Newer and more technologically advanced vehicles could be more expensive to repair and replace, which may lead to increased insurance costs.

How we calculate these numbers

Yes, at Youi, we offer insurance for Teslas in Australia, including the Telsa Model 3, Tesla Model S and Tesla Model Y.

If you choose Youi as your insurance provider, the cheapest average annual premium is $2,249 for the Tesla Model Y. To get a more precise cost, start a quote with us today.

How we calculate these numbers

Youi offers three options for car insurance including Comprehensive, Third Party Fire & Theft and Third Party Property Only. The best option for your particular situation will depend on a number of variables. Start a quote to get more detailed information about insuring your Tesla.

Third party insurance is compulsory in Australia – you need to have at least this level of insurance before you can legally drive your Tesla on Australian roads. It’s often a good idea to sort out your insurance as soon as possible after (or even before) purchasing your car to make sure that you have the right level of coverage when driving.

VIEW THE PDS CAR INSURANCE TERMINOLOGY

Guides

The following articles will provide additional information on car insurance and answer some frequently-asked insurance questions.

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